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for congress. let's dive right in. you say at the top of your list fossil fuel exports. why do you think this might become a big issue? >> i think fossil fuel exports has been a huge issue in the energy world for the last couple of years and finally it's rising to the level of where it's going to gain the attention of congress. the energy department released a study last month giving an implicit nod to natural gas exports. i think that could compel congress to really look at this issue. this law governing natural gas exports hasn't been updated since 1938. whether or not congress has the political will to change it remains to be seen but it's certainly going to be part of the conversation. >> you also write about the european financial crisis. i would think it's fair to say 2012 was a horrible, terrible, very bad year for the european economy. but what could that mean to us here? >> right. i think the fiscal cliff of the past month has really allowed a lot of people and especially those in congress to forget that there's a big world out there where economies are not doing so well either.
. >> it seems like a cycle of nonsense. >> it has gotten worse. >> he's right. this congress will go down as the least productive on record. the bottom line is that members are not putting country first. >> now it is so bipartisan and they are used to beating the other guy. >> which brings us to the next congress and the next fight acoss cross the board spending cuts and the fiscal cliff negotiations delayed for two months. the idea that battle will be different than this one seems -- >> i would like it to. >> laughable. she makes a point that a lot of people make during these strugglings democracy is a method it always has been but plenty of people we spoke with say they are sick and tired of the mess and they are hope they don't think congress can do anything. >> some interesting comments out there. chris will be monitoring everything going on in the capitol tonight and will bring us updates in the next hour and a half. >> we go to the weather and our first forecast for 2013. steve rudin is in the weather center. >> not so bad here in the wea
, just like almost everything congress does, right? the senate republican leader, mitch mcconnell, having difficulty with harry reid, he wanted to do a deal. he was feeling like maybe the democratic leader would string him along, trying to push him toward the cliff to increase his leverage. he called joe biden. they have a very good working relationship. cut a deal last year to increase the debt limit for the government. they -- they increased or extended the payroll taxes you were talking about in 012010. i have this from folks who were there. he went off the senate floor into the cloak room and said a lot of guys don't understand how things work like you do, joe, can we work together? and joe biden said let me call you back. he did and put an offer on the table. the first one of many that got us to the deal we see today. >> speaker boehner voted in favor of the bill, eric cantor did not. paul ryan voted in favor of the bill, marco rubio did not. are we seeing a fundamental split in the republican party? >> i think so. i think a lot of conservatives felt there was a revenue decrease with
parts of no new jersey and right around here on the wart. congress refused to act on this i'd package. we have the latest from washington. >> reporter: in october, superstorm sandy unleashed her fury often new york and new jersey. now the fight over funding has l.upted into a storm of anger on >> we cannot believe that this cruel knife in the back was delivered to our region. >> reporter: and in the region. >> 66 days and counting. shame on you. shame on congress. >> reporter: lawmakers expected a vote on the sandy aid bill late last night after the fiscal cliff deal passed but in a surprise move, house speaker john boehner pulled the bill. it would not -- the reaction was swift and angry. >> the ayes have it. the house stands adjourned until 10 a.m. tomorrow morning. >> reporter: the senate passed a measure that with provide $60 million and many said the provides tag was too high. >> there raise been no substantive reason given for the action. >> reporter: the timing is key. if the house doesn't vote on the senate-passed measure, lawmakers have to start from scratch because the new m
it the milk cliff. just like tax rates, if congress doesn't approve a farm bill by january 1st, the price of milk could go up. way up. right now, an average gallon costs $3.65. it could soar to between $6 and $8. >> that would be a pretty big impact. >> we would probably still be going through it but maybe cut down on other things. >> reporter: it wouldn't be just milk prices. all dairy products would be affected. imagine if wisconsin cheddar costs more than imported french brie. what would that mean for the average grilled cheese? one part of the large and very complicated farm bill controls the dairy market. without it, pricing would go back to an outdated law put in place during the truman era. the government would be required to buy dairy products based on 1949 production costs, when milking was done by hand. that would double today's price. farmers would lose incentive to sell directly to producers, and prices in the grocery store would sky rocket. >> it can't happen. it just can't happen. >> reporter: farmers like skip hardy in new york say it would be nice to get high prices from t
discouraging doesn't really cover it. it's really a terrible terrible reflection on congress right now what we're seeing. >> let's say we get the small deal to prevent taxes from going up. i think a lot of people would have some relief at that. i can't even believe this is going to come out of my mouth. i probably know what you're going to say. do you have any confidence, is what i was going to say, that maybe in the first two, three weeks of the year next year, first couple of months even of the year that they'll get back to -- once we get past this cliff issue, that we'll get back to having those big conversations about taking on deficits and debts? >> okay. so maybe i'll surprise you. i am holding out confidence. here's. why it looks like they're not going to get rid of the sequester. on one hand that's really bad policy. because the sequester is a big part of what could put the economy back in recession. but on the other hand, fit keeps the pressure on, they may keep it in place because they actually want to keep pressure on. as much as we watch what's going on in washington as discouragin
the people on the tv, talking about can't do that, ok, we got these people in congress right now, this president, you understand me, he is trying to do everything he can. his hands are still tied. host: it sounds like you are are a defender of president obecause mark drawing a comparison between president obama and mitt romney, his opponent in the presidential election. does president obama have a mandate? if he says, i want you to vote for this, democrats, that you should vote for it? guest: the president was clear he wanted to maintain the quarter million dollar ceiling. he gave ground on that. but it was as clear a policy statement as possible and mr. romney and mr. ryan posed, i guess, sort of a contrast, although they got fuzzy toward the end when it's kind of hard as mr. romney was reinventing himself but what he said for most of the campaign was diametrically opposed to what the president has proposed here. the american public saw it, the american public decided and as i say, it wasn't just the presidential election, but it was overwhelmingly in terms of senate and the hou
for this congress doing the right thing. >> the gentleman's time has expired. the gentleman from michigan, mr. camp. >> i yield 30 seconds to the distinguish gentleman from texas. >> i wanted to thank somebody on the other side -- after all these years -- for finally acknowledging publicly that 90% of the bush tax cuts help middle-class. i yield back. >> the gentleman yield back. >> i will yield to my temptation to respond -- i will now yield two minutes to another distinguished gentleman member of our committee, mr. neal of massachusetts. >> recognized for 2 minutes. >> thank you. at this late hour, let me point something out and take exception to what chairman camp said at the outset of his remarks. we are here tonight because, despite what the gentleman from texas just as well, you cannot cut taxes by $2.30 trillion over 12 years and fight to wars -- two wars. when you heard the argument before that was so popular -- is the people's money. it will promote economic growth. the most anemic growth the american economy is had since hoover became president. you know what is the people's responsibilit
'm melissa francis and here's what's "money" tonight. just when you think we're in the clear, congress reels us right back in. yes, there is finally fiscal cliff deal. now a brand new showdown looms over the debt ceiling. when will the madness end? we'll ask republican senator john barrasso. >>> plus a sperm donor being forced to pay child support. despite his signing away all parental rights before the baby was born. we'll look at money impact on the baby business everywhere. >>> and this picture will self-detruck in 10 seconds. the snap chat picture sharing app takes smartphones by storm. deletes content explicit or otherwise in just seconds after viewing it. or does it? how users could be literal caught with their pants down. we'll explain that one coming up. even when they say it's not it is always about money melissa: let's get right to a developing story right now. moody's rating agency just warning a short time ago that the fiscal cliff deal does not go far enough. moody's warning it will cut the u.s. credit rating without more deficit reduction. the mark sets celebrating today, not w
as the president has made concessions, boehner cannot show leadership to get anything passed through his congress right now. and, quite frankly, they're being sort of held by the tea party against some extraordinary positions that they have to take at a time when the paradigm has shifted. so i think the country is recognizing that the country -- gregg: looking at the larger picture, if we go into a double-dip recession, this president won't get anything that he wants on anything, and he he could go down in history as an awful president, right? >> a two of of term president who trounced the republicans in the november? absolutely not. he doesn't go down as an awful -- gregg: he didn't really trounce them in november. i mean, he actually pairly won. >> are barely? we'll go back to numbers, but that's another story. i think -- >> bush had two terms, too, basil, i don't think you probably think he was such a great president. [laughter] >> you're right, i don't. but the reality is i don't think he has egg on his face, he will not be screwed as a fail -- view ed as a failure. most people are willing to
the fiscal cliff and sharing your messages right here for congress and the country to hear. our josh levs up next with those. people really love snapshot from progressive, but don't just listen to me. listen to these happy progressive customers. i plugged in snapshot, and 30 days later, i was saving big on car insurance. with snapshot, i knew what i could save before i switched to progressive. the better i drive, the more i save. i wish our company had something this cool. you're not filming this, are you? aw! camera shy. snapshot from progressive. test-drive snapshot before you switch. visit progressive.com today. >>> we have been listening to members of congress when talking about the fiscal cliff, i enjoyed more hearing from you can the people, because after all that's what democracy is all b josh levels is back now with more of your messages for especially those in washington. >> yeah, i mean, look this is part of what's inspired people in washington to actually do something, is the mounting frustration in addition to the fiscal concerns, the mounting frustration all over the country, as
the fiscal cliff, another financial crisis emerged right? treasury secretary tim geithner telling congress that the u.s. just reached its $16.4 trillion borrowing limit. he says the government is now employing, quote, extraordinary measures in order to avoid default, no word how lawmakers will resolve huge differences raising debt limit, the debt ceiling but it could be just a matter of weeks before the government defaults. heather: the supreme court's chief justice weighing in on the country's physical problems. saying the judicial branch gets a minuscule fraction of the nation's trillion dollar budget. it has already done its part when it comes to cost cutting. he is calling on the white house and congress to give enough funding to insure the federal judiciary can do its job. saying this. a significant and prolonged short fall in judicial funding would inevitably result in the delay or denial of justice for the people the courts serve. i therefore encourage the president and congress to be especially attentive to the needs of the judicial branch and provide the resources necessary for it
together and compromises on these very consentious issues? >> right now congress, the 20% rate plus the 3.8% rate on -- on the health care reform, that's still widening the debt bias. what happens when you widen the debt bias? companies leverage more. companies that are leveraged companies they invest less and create less jobs. >> yeah, go ahead. >> finally, investors get hooked into debt securities. short term higher income and long term inflation kills you. >> but you know how debt works. i mean, that is a -- has been a growth engine in our economy for corporations and individuals. >> we live on debt. >> we borrow to pay for our homes, corporations borrow to pay for factories. >> debt is not terrible, but let's not tax debt -- let not tax borrowing less and let's have investing, and that's the part. i don't think the administration that this is a giant gift for private equity. >> okay. >> because they use -- they use tax efficient debt to go leverage companies, pick them off. >> thank you so much for joining us today. >> making the case for the individual investor out there living on th
of the republicans in congress, right? isn't that the important part of the conversation? >> i do think that that's been the problem, certainly up until now. it has been the political intimidation that they really will go after you if you cross the nra leadership. also the majority of the people that -- who are in the majority and the congress, 51% of them, get money from the nra, but i think the main leverage that they have is this political intimidation. but somehow we have to stand up to it. what's the point of saving your political career if it means the loss of such innocent lives as were -- as were massacred at sandy hook and will continue to be if we don't take action. i mean, there has got to be a line where we're willing to draw it, and we have to ask ourselves is our political career of greater value than the lives of those young children. >> congressman jim moran, democrat of virginia, thank you for speaking with us this afternoon. >> sure. >>> 3:00 on the east coast. it is noon on the west coast. i'm victor blackwell in for brooke baldwin. we have a lot to get to this hour including t
families and it would be bad for businesses that depend on family spending. fortunately, congress can prevent it from happening, if they act right now. i just will a good and constructive discussion about how to prevent this tax hike on the middle class. i'm optimistic we may be able to reach pan agreement that will pass both houses in time. senators reid and mcchon nell are work -- mcconnell are working on such an agreement as we speak. but if an agreement isn't reached in time between senator reid and senator mcconnell, then i will urge senator reid to bring to the floor a blase sick package for an up or down vote, one that protects the middle class from an income tax high, extends the vital lifeline of pun insured been fits and a plan for an economic growth and deficit reduction. >> that was president obama talking with four days left in that fiscal cliff deadline saying he's hoping congress will reach a deal on this. if not, he's asking them to bring a package to the floor that will protect middle class mrns. >>> coming up all brand-new at 6:00, american families are now banned fr
the fiscal cliff talks? and some new years resolutions on congress. we will be right back. excuse me, sir i'm gonna have to ask you to power down your little word game. i think your friends will understand. oh no, it's actually my geico app...see? ...i just uh paid my bill. did you really? from the plane? yeah, i can manage my policy, get roadside assistance, pretty mh access geico 24/7. sounds a little too good to be true sir. i'll believe that when pigs fly. ok, did she seriously just say that? geico. just click away with our free mobile app. gerri: it is official coming house will be back to deal with the fiscal cliff monday afternoon. harry reid asked the politicians to blame john boehner for everything. joining me now, chairman and cofounder. great to have you back. i mean, come on, harry reid was crazy today. >> american people i don't think understand the house of representatives is operating without the house of representatives. it iit's being operated with a dictatorship of the speaker. gerri: how do you respond to that? john boehner quinones says to make everything not happen? >>
's absolutely right, you're right. because to not go over the cliff, both houses of congress will have to pass something to avert that, and the president will have to sign it. so that is true. and that is why, as i said, politically, there aren't a lot of -- there are some people who aren't that upset about it, because it kind of makes the medicine go down a little bit easier when they vote on these cuts. having said that, we've heard from democrats in particular, for weeks now, that, you know, to sort of take a deep breath, that yes, it is called the fiscal cliff, but it is more of a slope, and particularly advantageous to members of congress who haven't got be their work done that january 1st is a federal holiday. so nothing is going to happen and there aren't going to be any real-world effects, especially when we're talking about the thing that really matters the most to a lot of people around here, just how the market is reacting. we saw the market go up today at news, seemingly at news that things were going well here. so, but technically, i think you're right, i think if the house doesn'
the dead of night. name-calling and cursing at every turn. it seems congress can't get anything right. alas, despite all their problems to mike and commend them on one thing, the fiscal closed deal has done nothing to fix our task -- tax cut or deal with the spending. it does blocked an automatic pay hike for members of congress. lawmakers are supposed to receive automatic cost-of-living pay hikes, but as congress's approval rating has fallen into single digits they have consistently voted to reject the race. the president obama recently issued an executive order to implement it along with the pay increase for federal workers. lawmakers might not be good at doing their job, but it sure seems they know what. that is my "2 cents more." coming up tomorrow, the fiscal cliff deal worked out on capitol hill. piece of our financial problems. tomorrow steve forbes to talk about that. that's it for tonight on "lou dobbs tonight." have a great night. lou: good evening, everybody. the last-minute fiscal cliff steel locking in bush-era tax rates for most of america, but that deal still resu
't afford a self inflicted wound to our economy. >> fortunate lie congress can prevent it from happening if they act right now. i had a good and constructive discussion with senate and house leadership about preventing the tax hike on the middle class and we should be able to reach an agreement to pass both house necessary time. >> senate leaders can't strike a deal. it would be a plan c. keeping tax cuts for those making $250,000 or less . extending unemployment benefits and delay dramatic spending cuts until later next year. >> they realize it is it a critical time. >> we are engaged in discussion majority leader and myself and the white house in the hopes we can come forward sunday and have a recommendation that i can make to my conference and the majority leader can make and we'll be working hard to try to get there in the next 24 hours. >> sources say house spheeker bone bone deferred to the senate and house would consider or amend the plan and not expected to be included is the debt limit . leading republican senator said permanence is key and given the certain ty. task and alterna
are skeptical. >> the american people have a right to be very upset with this congress. >> reporter: president obama has invited nancy pelosi, john boehner, mitch mcconnell and harry reid to the white house this afternoon for a fiscal cliff summit. >> here we are. five days from the new year, and we might finally start talking. >> reporter: today's white house meeting might be the last chance to come to an agreement. that's because it takes time for a bill to work its way through both chambers of congress. >> i don't know time-wise how it can happen now. >> reporter: under senate rules the onlyway a bill could come through the you woulds in time is if every senator agrees not to slow the progress. the house will be back here sunday night giving them just more than 24 hours to vote on any bill the senate works out. outside the beltway, don will be watching. >> everybody's kind of in a wait and see and finger crossed perspective right now. >> reporter: since 1930, this is only the fifth time congress has worked after christmas. tara mergener, for cbs news, washington. >>> time right now is 6:07
to spur congress to take action quickly on this. i'd like to be wrong on that. >> all right. so representative ron paul of texas distanced himself on monday from the nra proposal to put more armed guards in our nation's schools and paul said on his website it's another kind of violence. how do you think this conversation can be had logically in the new year if that's the only option that the nra wants to put on the table as a meaningful solution? >> well, i think that tragedy we just heard about in new york is further evidence of the fact that criminals and mad men do pay attention to the gun laws. that man was not supposed to have access to guns yet he did. in response to your conversation you had with my friend jack kingston, we should not be complacent to go to schools to be assassinated ed but the fac we need to protect our children and guns in schools should be decided at the local level but the mad men and criminals, no amount of gun control and restricting access and tightening the gun laws will stop a criminal from doing what he intends to do but putting an armed guard
for a couple of months and that means, norah, that a fight is going to start right away between congress and the white house over how to come up with a package of sensible cuts to replace that sequester. >> nancy, you mentioned that the sequester was not dealt with. it also didn't deal with the debt ceiling which needs to be dealt with in the next couple of months. so what happens now? is there still hope for grand bargain or is that done? >> reporter: well, that grand bargain the president had been working out with speaker boehner was supposed to include raising the debt ceiling. that grand bargain fell apart and now congress is going to have to vote in pretty short order to raise it and republicans are already saying they're not going to do that unless they get some big spending cuts in return. you heard the president say repeatedly he's not going to negotiate over this again. he doesn't want to see the nation's credit downgraded. he wants congress to just pass it right away, but he doesn't control congress. so if he wants republicans to vote in favor of raising the debt ceiling, he ma
' that funny, thhy're countinn down the year on new year's eve, that'ss telling right therr."jjmes assurancess..from eitterthe president...or congress...that fiscal clifff..is imminent. "i think 2003 will bring a lot of unceetainty and a lot of challenges."kkng owns several pestaurants ...ann fears... that starttng new year's day...there'lllbeautomatic increasess..in the federal payroll tax.(king) "and it's a two percent increase across the boarr for all of our employees, they're going to feel it, their paycheck's going to feellit, e're going perccnt..t as we pay that two - prydell) ....in gambrills, some maryllnd residents hit hard by superstorm sandy.. are getting some extra rrlief. peliee.residents of somersett county who experienced significant ddmage wwll be eligible for food stamps because of the disaster. heeprogram provides ooe counny department of social e - services and the disaster recoverr center in ccisffeld. pgetttng ready to ring ii the new year aa the inner harborr harbor. melinda rooder is &llve with the reperaaions. 3 last miiutt new years eve ppeperatiins are also underw
answers right now. gerri: president obama calling on congress to act to avoid the fiscal cliff. the president said he is optimistic. modestly optimistic, that is, that a deal can be done. here is the president. >> i still want to get thi done. it's the right thing to do for our families and our businesses and for our entire economy. but for iediate action comedy hour is here. it is now. we are now at the point where in just four days, every american's tax rates are scheduled to go up by law. every american paycheck will get considerably smaller. that would be the wrong thing to do. gerri: no kidding. we have been telling you that for weeks. democrats and republicans alike should rename their parties the procrastination party. that is because like a lot of college freshman, they left their work until the last minute. including the 800 billion-dollar fiscal cliff that we have been talking about. a hundred billion dollars it hasn't happened yt. it's not like the deadline comes as a surprise to anybody at all, the least of all congress. they were the ones who extended the bush tax
that congress can get a deal done before tax hikes and spending cuts kick in january 1. >> i am not optimistic. >> reporter: even congressional leaders are skeptical. >> the american people have a right to be very upset with this congress. >> reporter: president obama has invited nancy pelosi, john boehner, mitch mcconnell and harry reid to the white house this afternoon for a "fiscal cliff" summit. >> here we are five days from the new year, and we might finally start talking. >> reporter: today's white house meeting might be the last chance to come to an agreement. that's because it takes time for a bill to work its way through both chambers of congress. >> i don't know time-wise how it can happen now. >> reporter: under senate rules the only way a bill could make its way through the procedure hurdles in time is if every senator agrees not to slow the progress. the house will be back here sunday night giving them just more than 24 hours to vote on any bill the senate works out. outside the beltway, carlino will be watching. >> everybody's kind of in a wait-and-see and fingers crossed perspec
is in the a republican value. >> we pray for them. how much prayer would to take for this congress to find it in their hearts and in their heads to do the right thing? >> if a vote on the pagac doesn't vote before the congress starts tomorrow, they will have to vote on it as soon as they are sworn in. >>> no delay getting the sandy hook elementary school students into their new school. today they toured chalk hill school in nearby ron mow that was renovated for children's whose studies came to a halt when a gunman opened fire killing 20 children and six adults almost three weeks ago. classes restart tomorrow. the desks and belongings left behind are now at the new elementary school to help the students feel more at home. >>> back here in the bay area, air quality officials have called a second spare spare spare today so that means you can't burn wood or other solid fuels. and you might be tempted to, with how cold it is out there. bay area drivers woke up to find frost on their windshields, cold seats in their cars. the temperatures were near or below freezing in some places so just how lo
battle lies ahead. what the new congress faces in the months ahead. fox 5 morning news continues right now. >>> straight up 6:00 right now. here is a live look outside. we'll take a live look at the u.s. capitol dome where lots of wheeling and dealing has been going on, finally a compromise reached on the fiscal cliff deal, but, of course, our troubles are far from over. we'll be continuing to follow that story coming up. >>> good morning, everyone, it is wednesday, january 2nd, 2013. i'm sarah simmons. >> i'm wisdom martin. let's get right over to what's happening outside in the weather world. and for that we say hello once again to tucker barnes. >> hi. >> good morning. >> good morning. >> everybody headed back to work and school, at least parts of the area. >> get the seat warmers going. >> get the seat warmers going. 30s to start your day. here's a big change from yesterday. we'll have more sunshine than we've seen in the last couple of days. so it should be fairly nice looking out the window. still on the cold side. highs only about 40, maybe 42. let's go right to radar. we've h
. >> not this democrat. i would absolutely support it. >> unfortunately you are not in congress. >> you are right. >> i talked to republicans. i said, listen, if tomorrow the democrats had an epiphany and decided representative ryan planes for making medicare a voucher system were the best thing to do, would you vote to raise taxes on millionaires and have them? they say no. i mean -- >> you can't get anywhere with these two. >> we are going over the cliff. >> five days left and people are asking, will there be a deal or no deal? more important question and jimmy referred to this is what kind of deal? there are worse things than make nothing deal a bad deal would be much worse. >> all right. great to have you. enjoyed it. >> happy new year. >> i love the bow tie. good to see. >> did you thank you. >>> now to the winter storm sweeping across the country. the weather channel's kelly cass joins us now with the details. >> good evening. we are still dealing with a winter storm that's bringing blizzard conditions at times. lot of wind blowing the snow behind and we are talking one to two feet of snow accumu
. but there is a way in which congress, and particularly congressional republicans may actually be helping president obama out right now. everybody's always known two things about the cliff. you're almost certainly going to get more taxes in a deal after you go over than in a deal before you go over it. that's because after you go over the cliff, taxes already go up for everybody. so anything you do, any reasonable deal congress reaches, it will be a big tax cut. but the other thing about the fiscal cliff is you don't want to be blamed for going over it. it is going to be bad for the economy. it's bad for the country. what speaker boehner's done is create a situation in which we're going to go over the fiscal cliff. but the people who want higher taxes, the democrats, they're not going to be blamed for it. after all, it was john boehner who walked away from negotiations to try plan "b" last week. then it was john boehner who planned to pass plan "b" that very same week. then it was mr. boehner who said it was up to the senate, someone else's problem. just from a pr perspective, what john boehner has
and elsewhere. they're just overloaded with things right now in the congress. and it's so hard to see it getting through that house when of course the leadership doesn't want it to get through the house in the first place. >> indeed. julian, we now know how william spengler who murdered two firefighters last week was able to get his bushmaster semiautomatic despite being a convicted felon. this woman bought the gun on behalf of the shooter at a gun shop. julian, if you went into a cornershop and a child openly gave you instructions to buy a certain brand of cigarettes, it's likely that the shopkeeper would refuse. yet in the space of two weeks, one person steals his mother's guns, another buys a bushmaster illegally. isn't this why these weapons of warfare need to be banned because if they are available, people will find a way of getting them. >> yeah. it's why these weapons of warfare need to be banned and why we need to do a lot more if we want to have any hope of trying to protection our children and others from the epidemic of gun violence. you have the problem of unlicensed places as gun sh
, and disease. right now some say the biggest threat to their livelihood is congress. the fight in d.c. over the fiscal cliff is leaving the future uncertain for one law, and farmers depend on that law. >> reporter: eagle lake, texas, depends on rice. it's been grown here since the 1800s. drought is usually the biggest threat, but the nervous talk in the drugstore now is about congress. >> without the farm bill, it really makes it uncertain for what you should do next year. >> reporter: steve is a pharmacist here and a rice farmer. >> people are nervous. >> very nervous. >> what are they saying when they're coming in? what are you hearing? >> what do we do? they don't know what to do. it's so uncertain right now that the banks don't know what to do, the farmers don't know what to do. they're out there plowing the land, getting it all prepared for next year with total uncertainty. >> reporter: at stake? $154 billion in federal farm aid and crop insurance sidelined by the fiscal cliff stalemate. benefits from the farm bill also guarantee rice farmer l.g. ron that his costs are covered when cro
to the drawing board and do more testing and look again. because of that, the congress being directly involved, saying they may not be right on this one, we were able to move ourselves in the direction and make sure it would be the cutting edge for decades in the future in terms of america's air strength. >> we often hear who is right and who is to blame for the wasteful spending. some programs the military does not want continued to be funded because they have jobs. how does the public get their money's worth, money spent most effectively, the way this system works? >> it is important for us to know the department of defense is not always right. for example, one of the early earmarks involved an arena known as unmanned aerial vehicles. i happened to be in the middle of that. the air force at the time was not interested in aircraft that did not have a person sitting in the seat. uav's caused a revolution in the way we deliver intelligence to an aircraft. they are now on the cutting edge of tomorrow's air force. it is important congress has its voice heard. i did not presume to know we were rig
of course the final word rests right here with us in congress. o.m.b.'s decision with be overridden by a joint resolution. every provision of the calm act is familiar to the senate. in fact, at one time or another, nearly every feature of this plan has been offered by both republicans and democrats, including president obama and speaker boehner. all i'veone is pull them togethero offer them has a compassionate alternave to what happens if we go over the fiscal cliff. true, from the very beginning i have favored a comprehensive solution to put our fiscal house in orderings something along the lines of the simpson-bowles. we don't have that luxury right now. but perhaps it will only soften the blow of the fisl cliff but also give us a sense of urgency about a grand bargain to repair our financial house. i am not so naive as to believe everybody is going to check their piticat the door, even at this late hour, but this is not a time for politicki, bickering or partisan games. to allow the country to plunge over the fiscal cliff without any alternative plans t soften the landing is comp
the impact it will have on you. >>> all right. members of congress never that pretty. >>> secretary of state clinton waking up in a new york city hospital. making excellent progress. we'll have the latest on her condition. >> welcome to "early start." i am ali velshi. >> i am christine romans. >> and quite a lot to talk about. through this morning, the senate passed a plan to fend off the fiscal cliff. but now it's up to the house of representatives to follow suit. just after 2:00 eastern time this morning, the senate overwhelmingly passed a plan that was crafted by the vice president and the senate minority leader, mitch mcconnell. vote? 89-8. the republican controlled house left well before midnight last night, so they will are to take up the measure today. >> i said all along, the most important priority was to protect middle class families. this legislation does that. >> this suhouldn't be the model for how we do things around here, but i think we've done some good for the country. >> bush era tax cuts extend for individuals earning less than 400,000 a year, and couples earning less than
and some confidence. all right. we'll be watching. clarity. thank you, alison. appreciate it. if congress can't reach this deal by midnight, higher taxes is not the only concern for a lot of folks. many families may not have money many can youing in at all. nearly 2 million people are at risk of losing their long-term federal unemployment benefits as the new year begins. another 1 million workers are going to exhaust their 26 weeks of state unemployment benefits in the first quarter and are not going to be able to file for a federal extension. joining us now is the president of optimum capital management ryan mack. ryan, good to see you. first of all, a lot of people very worried here because we are talking about those who are really at risk, those who might not get their unemployment benefits. what kind of options do they have. >> essentially, these are a lot of individuals operating out of fear. we do a lot of work around the country talking to those collecting the checks and basic questions, am i going to be able to eat? am i going to be able to pay for housing and shelter? these are b
are the top stories this hour. right now, congress scrambling to reach a deal on the fiscal cliff before tuesday's deadline president the senate and house are convening while senate negotiators work at a plan to prevent massive spending cuts and tax hikes from kicking in january 1st. president obama appeared today on nbc's "meet the press" and said the cuts in spending need to be fairly distributed. >> what i'm not willing to do is to have the entire burden of deficit reduction rest on the shoulders of seniors making students pay a higher student loan rates, ruining our capacity to invest in things like basic research that help our economy grow. >> in news overseas the bodies of the dead are being carried away in syria today. at least 397 people were killed saturday. that is the deadliest day so far in the 21-month long civil war. another 52 died today. the joint u.n. arab league envoy said the situation is rapidly deteriorating but that a solution is still possible. >>> in massachusetts boston's mayor lifted a snow emergency a little earlier today. more than a foot of snow fell on sever
have the same percentage of delegates in congress that right the laws. it you didn't do that you exclude the 18% that had a role to play in governing which you think is the idea. in european countries we have proportional representation. if you get more than usually a cut off of 5% to get whatever the percentage of your vote is that is how many seats you get. you all understand i assume we don't do that in united states. if you get 51% of the vote you get it all and 49% wage. we have had proportional representation in the united states in the past. when you read about primary, and they a gets 20 delegates for the convention and candidate b, that is proportional, they get an equal number of delegates, we actually recognized in the united states proportional representation, we just don't allow these days in our elections. one reason for that if i can be allowed a moment of american history, finding myself these days teaching american history over and over again and here is an example. you may not know it but in the 1940s, the city council of new york city had elections based on pro
stole the rally? the folks inside the beltway; right? >> it's congress. it's a really bad week and bad month for stocks. this is when we have a santa claus rally, final ten days of the year are supposed to be really stroke. not the case today. you talk about the low of the session. i tracked this. we were down 170 points at the low of the session. i didn't remember seeing it, but we were. hp, a grinch itself, continuing the decline adding to its 46% yearly decline, the biggest loser so far this year i'm learning. >> yeah, it is the biggest loser on the dow, especially today, down today. this on news that the government
and the country already just because of the lack of action? >> i think the president and the congress are right now not serving the people in the best fashion. we need the fiscal cliff resolved right away. this uncertainty causes great harm to the country, and we need very aggressive plans to reformulate our budget so that we don't have to have this uncertainty hanging over us so freakedly. you know, right now, american factories have a 20% price differential with competitors all through the the world. we need our system to be more competitive so we can grow. if we raise taxes on the job creators, on the factory owners, what happens is we'll be less competitive. the 20% will grow. we'll have less factories built here in america. it's very important that washington starts working out deals right away so that the fiscal cliff can be history, and we can focus on building factories, higher people, growing. dagen: well, they are not listening to you, drew. i hate to break it to you. in the interim, your company makes wire baskets and does sheet metal fabrication. based on what you see, how much of y
whatever comes out of congress before wednesday. >> right. and the irs can sign -- give instructions to companies around the country about paycheck withholding. it will take a couple of weeks to adjust what the new tax rates are anyway. that is why they have a little wiggle room beyond midnight tonight in terms of exactly what the tax rates will be. i will put up a little bit of a red flag in terms of joe biden the vice president trying to sell this to senate democrats. there are some senate democrats on the left who may say wait a second, if we go off the cliff and don't sign off on this deal instead of dealing with the threshold of $450,000 we will basically have all of the rates go back to the clinton levels and you lose the bush rates. and then they he could come back in three, four, five days and try to change the threshold and just have it $250,000 and above taxes go up. i'm not saying they will succeed in that but that is a possibility out there because another big thing that is happening in a few days is that senate democrats pick up more seats in the new congress. they picke
you need to hear from congress, from washington right now? >> well, frankly, i don't mind if we go over the cliff. i'm all about balancing a budget and gaining a healthy economy. and i would like to see everybody start working in a bipartisan way coming together, coming up with a solution, eliminating the politics, and just bring a solution to the table that's long-term not short-term. short-term is what we had. i heard ali say earlier today that others are afraid of kicking the can down the road. i am afraid of that. i think we're all tired of it, and 500-plus days to work on this is a long time. i'm more concerned that if we don't get this together now, if we don't look for a long-term soluti solution, that we'll never get to the spending issue, which i truly believe is our problem. >> that's your biggest issue as a small business owner? you think it's spending? >> well, as a small business owner, i'm more concerned about a healthy economy. i think tax rate increase, tax rate hikes are not going to be the solution because we have tax code reform that needs to be done. and without
between congress and the presidency. >> as long as the hard right is only afraid of the hard right back home, the further hard right, they have a lot of strength. >> yeah, and i don't think this type of party can become a governing party for those reasons. >> do they want it? do they want to? >> some of them don't. some would rather go down fighting. >> you can survive in congress for 30 or 40 years simply issuing press releases trashing the government. >> easily. >> that's all you have to do. >> there's 100-plus that could be there forever. >> they're all stuck with the committee chairs. the democrats would love to be the committee chairs, and the republicans would love to be the ranking opposite member who doesn't have to do anything. it's so bad. anyway, what a disgrace. ryan grim, thank you. [ male announcer ] with over 50 delicious choices of green giant vegetables it's easy to eat like a giant... ♪ and feel like a green giant. ♪ ho ho ho ♪ green giant like gas station sushi. or super cheap car insurance. and then there are good decisions. like esurance. their coverage counse
is diana olic, bob and eric. coming back aces from washington, diana, what are they? >> that's right. congress did not touch the mortgage interest. number one on the mortgage interest deduction i have to say it is more emotional because to you do the math you will find the savings you get from refinancing to today's record low interest rates, which by the way are government induced, is probably more than the savings from mortgage interest deduction. still a big one emotionally and that's great. >> not only for homeowners but for realtors too. >> yes. for realtors too. and tax relief for debt forgiveness is huge. ov over 98,000 short sales in q3 alone. modifications by big banks helped keep the housing recovery going. helped put a floor on home prices. if you had it pay taxes on that debt relief, people would stop accepting short sales, go right into foreclosure. plus the banks wouldn't be able to do the loan modifications. >> thanks you. up next, after the fiscal cliff storm, how is it going to fare? ? bob, what do you think? >> the banking index was 30%. that's because after the fin
is certainly spot on, joe, right, as congress comes back in session from the holidays tomorrow. if it they go to starbucks, they'll get the message loud and clear from their barista. this will be will d.c., is this parts of virginia. they will voluntarily where "come together" to urge politicians to get a deal done on the fiscal cliff before the end of the year. and i wasn't very surprised because howard schultz has been very outspoken. we sat down earlier this month to talk about the fiscal cliff and the risks to u.s. businesses, to the world economy and to the average u.s. citizen if we don't have a deal, if we don't get it done. i want you to take a listen to what he fold me. >> the real difference today versus perhaps any other time in history is that this single issue has a seismic effect on the rest of the world, that we have never been as connected and the domino effect of a bad outcome here will have significant negative consequences domestically and around the world. not the least of which will be the level -- fracturing of confidence in the united states of america. >> seismic and s
the last time i saw john boehner even crack a grin. [♪ theme music ♪] >> jennifer: 24 hours after congress finally did something, the right-wing is up in arms! the reports headline was republican horror new year. scary stuff. and it only got spookier from there as republicans turned on their own. >> republicans caved last night. >> they waited 20 years before giving themselves away. >> i would be. >> seriously, could the republican party have mismanaged this any worse. >> i think the president did a great job of getting the speaker to undo everything that he promised he would do. >> after midnight and all of that partying and rivalry that goes on at new year's eve, what i can tell you is they did half a bill. >> jennifer: not just the folks on the right who are whining and complaining, there are some on the left who are almost giving the tea party for dogmattic money. paul krugman wrote . . . >> jennifer: okay. i love paul krugman but on this one i have to strongly disagree. let's take a look at what progressives actually got. first democrats got tax increases for the we
's not worry about that right now. the last thing we want to see is a we-need congress and a weak-willed president patting themselves on the back because they have some watered down deal. i think they need to feel some ain, i think they need to see he the implication in the markets, in the ecomy, so, yes, i think no deal right now is better than a bad deal. >> okay, gary b, jim mentioned the market, let me play wall street on tv. basically i'm sick of this. 'm going to keep heading south because the uncertainty, the anxiety is killing me. if we had any kind of deal, at least we might see stocks move up a bit. that wld be good for our 401(k)'s, wouldn't it? >> that's exactly my perspective, brenda. this was a really rough week on the market and it's all related to, n the-- not the fiscal cliff, it's the psychology of the fisl cliff, and the sad truth is whether they do a deal now or they thoughtfully do a deal six months from now, really, nothing will be accomplished. the fact is, public debt is consuming our economy. it's about 73%, regardles o what deal gets done. it will be abou
the lottery." and you expect kind of across-the-board tax increases at some point for everyone. > > right. it might not happen early in the year, we will have to see. i expect congress and the president are still going to be fighting about what our taxes are going to be early in the year. but eventually, maybe late traders head back to a post- holiday trading session. what's in store for the shortened week. in today's cover story, minimum wage is on the rise. the effect on the labor market. plus, scammers have been naughty this holiday season. why checking your credit card statement is a nice idea. the financial pitfalls that could put a snag in your savings in 2013. and, bad business blunders. how corporations this year are attempting to recover reputations. first business starts now. you're watching first business: financial news, analysis, and today's investment ideas. good morning. it's wednesday, december 26th. i'm angela miles. in today's first look: the final trading days of 2012. stocks are closing in on the 4th straight year of gains. as of last week, the dow was up roughly 7%. t
that congress has to deal with yet another bruising debt ceiling battle. >> all right. thank you. >>> why do you think lawmaker waited until last minute? there is a lot of questions surrounding that. we are getting a lot of feedback on our facebook page. >> william have bad hotwood says it was to, quote, act like they are doing something for their already overrated salaries. they do this almost every year. we need to force them to change the way they work us for. share your commends our facebook page. >>> still ahead this new year's morning. >> so, a deal has been reached mentioned in the senate. that doesn't mean the tension is gone. we'll take a look at what new year's resolution lawmakers may want to consider when we come back. (woman) 3 days of walking to give a break cancer survivor a lifetime-- that's definitely a fair trade. it was such a beautiful experience. (jessica lee) ♪ and it's beautiful (woman) why walk 60 miles in the boldest breast cancer event in history? because your efforts help komen serve millions of women and men facing breast cancer every year. visit the3day.org to regi
on adoptions is part of their revenge for a set of human rights sanctions passed by the united states congress and signed in to law earlier this movement russia is the third most popular country for americans to adopt. over 60,000 of them have happened since the fall of the soviet union but recently very have become a political football. officials point to the cases of 19 children who have died after being adopted by americans. the issue caught fire in 2010 when this boy was put on a plane alone by his adopted mother. the majority of russians support the ban but it's also sparked outrage among many who say this is playing politics with children. the griffins meanwhile are holding out for a miracle. >> you hope that it's not a door shut but just -- that it's just a hurdle, a delay, we simply don't know. >> reporter: abc news. >> and now, maryland's most accurate forecast. >> take a look at it. sunset comes early these days no question. current conditions now at the airport 37 degrees. winds are west at 16, been a gusty day with high wind advisories across the area. we continue to see the wi
earning $250,000 or less. but even that seems unlikely. >> the american people have a right to be very upset with this congress. >> publicly, both sides have ratcheted up rhetoric, pointing the finger. >> john boehner seems to care more about keeping his speakership than keeping the nation on firm financial footing. >> the only reason why democrats have been trying to defect -- deflect attention over the past few weeks is they did not have a plan of their own. >> the path for the rest in the hands of the senate. house republican leaders say they will take action on whatever bill can pass the chamber. if there is a breakthrough, the legislation will not pass until the 11th hour or because house members to not return here until sunday night. abc news washington. >> new word on a potential dockworkers' strike that could cripple the nation's economy. the mediator now says contract with the longshoremen on the east and gulf coast have been extended for 30 days. thousands of workers at the port of baltimore and 14 other ports from boston to houston were ready to go on strike sunday. those po
at the president's proposal to congress. september 2011, just take a look. it's on the internet. $1.6 trillion in revenue. >> right, but -- >> that was -- that's what he proposed, raul and then -- >> how many votes did that budget get. >> actually it got overwhelming support in the house despite the talking point you guys used. >> how many -- >> well, based on the republicans' pla overwhelming democratic vote -- >> it failed. the republicans have failed, as well. but i want to ask, republicans seem to be incredibly divided on this issue of taxes. you wouldn't even support your leader. you wouldn't even support speaker boehner, a relatively modest increase of those making over a million dollars. charles krauthammer said that this is -- republicans are basically completely divided on this. here's what he said. president obama's been using this and i must say with great skill and ruthless skill and success to fracture and basically shatter the republican opposition. his objective from the very beginning was to break the will of republicans in the house and to create an internal civil war and he h
't predict what's going to happen next year, much less ten years. and you are right, future congresses can change. last year when we had the big debt ceiling fight and the budget control act and everybody was worried about that, we pass add budget control act and set limits on spending, we exceed them all the time. we bring up a point of order and they said we decided we don't care anymore, a year later. so they don't obey their own rules. it's why people are so frustrated with congress is he pass rules on ourselves like we are supposed to read the bills and brent them up and put them on line and we disobey the rules. the majority votes and say we don't care. >> we will hit the debt ceiling soon. two questions. one, would you agree for any reason to raise the debt ceiling, and number two, if we hit the debt ceiling, does this mean the americans will not get their tax refunds when they apply for them in january, february and march or will they be delayed? >> i would raise the debt ceiling under one condition and that would be a balanced budget amendment to the constitution. barring that, pe
as tomorrow? >> reporter: right. congress will be sworn in tomorrow at noon. they're getting organized even today. to be honest, i think, suzanne, that there are two things happening. there's the fiscal cliff fallout, a lot of republicans were not happy about the spending in the bill. behind the scenes they told our producer that they understood what speaker boehner had to do and they weren't holding it against him. then we have this hurricane sandy relief bill, and to be honest it seems the speaker's office is quickly trying to fix that situation if they can. they're meeting with members from new york and new jersey today at 3:00 again coming from our producer. i think they realized and it would be hard not to that they angered many members and trying to figure out what they can do. they said speaker boehner's first priority in the next congress is the hurricane sandy aid. obviously, there are unhappy members and perhaps even more unhappy volters that they're going to have to speak to. we're going to hear from new jersey governor republican chris christie in the next hour as well, so that'
cliff meeting at the white house right now, four top members of congress meeting with the president in the oval office. can they avert us going over that fiscal cliff? [ male announcer ] it's that time of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. make a wish! i wish we could lie here forever. i wish this test drive was over, so we could head back to the dealership. [ male announcer ] it's practically yours. test drive! but we still need your signature. volkswagen sign then drive is back. and it's never been easier to get a jetta. that's the power of german engineering. get $0 down, $0 due at signing, $0 deposit, and $0 first month's payment on any new v
. the bill just pushes off those cuts for two months so you're going to see congress and the white house fighting right away about how to replace the sequester with more sensible cuts once and for all. >> nancy cordes thanks nancy. >>> shortly after the house vote president obama got on a plane to resume his christmas vacation in hawaii but first he complained to reporters about how hard it was to reach a deal and insisted it won't happen again when the debt ceiling battle comes around. >> i will not have another debate with this congress over whether or not they should pay the bills that they've already wracked up through the laws that they passed. the one thing that i think hopefully in the new year we'll focus on is seeing if we can put a package like this together with a little bit less drama, a little less brinksmanship, not scare the heck out of folks quite as much. >> major garrett is in the white house briefing room where the president made that announcement just hours ago. major, good morning. >> good morning. >> major, just to start with what was the reacti
. toxic politics of congress right now. they can't even agree with each other. for somebody who has a real job to do here, you know, who is held responsible for the lives and health and safety of people in this state, it is extraordinarily frustrating to me that we've got people down there who use the citizens of this country like pawns on a chest board. that's the way the citizens of new york and new jersey were treated last night. pawns on a chest board, our people were played last night as a pawn. and that's why people hate washington d.c. and hate politics. last night it was my party responsible. last night, my party was responsible for this. matt? [inaudible question] >> i'm not a member of the house, i don't get a vote. i don't care. [inaudible question] >> i don't know. i hope not. i hope that we're not really believing that people who live in new york and new jersey are second-class citizens given the fact that we contribute so much more to the operation of the federal government than we ever get back in return. there is a regional bias, it should be in our favor when we finally ha
benefits as well. some members of congress say it does not go far enough and sets up another showdown over fiscal issues in 2013. others believe the country could not afford not to pass this bill. the president talked about all this right after the passage. >> thanks to the votes of democrats and republicans in congress, i will sign a law that raises taxes on the wealthiest to% while preventing a middle- class tax hike that could have sent the economy back into recession and at a severe -- and have a severe impact on families across america. >> the president said it will be a very busy 2013. the new congress will be sworn in later this week. there will be a number of issues they will have to tackle quickly. one thing this bill does not do is tackle the so-called dumping ceiling. the country will reach its borrowing limits in a matter of months if congress does not act. >> police say speed cameras slowed down drivers and looks like they are right. in is the day found speed cameras have reduced speeding and accidents on seven maryland roads. aaa which has criticized the program as a moneymak
congress. is that enough for you right now? >> if we get it through. the fact is we've been told this before. the fact is that we have no vote scheduled for next week. we're going to be in for two days the week after that, the following week is the presidential inauguration. is john boehner going to bring this up if a majority of the majority does not agree to it? let's face it, the overwhelming majority of the republican party is opposed to giving new york, new jersey and connecticut the aid we need. they say we need 27 billion. this bill was nor $60 billion. that's the number that governor cuomo, governor christie and player bloomberg need. just having a vote doesn't mean much unless it's for the full $60 million. i don't know how the speakler do that if he follows his policy saying you have to have a majority of the majority. it's very difficult to get anything out of that conference, especially when you're dealing with the northeast. if the speaker can do it, fine. we've been down this path now for the last month where i've been assured time and again everything was fine. i w
moderates left, because so few seats are competitive. members of congress -- it's a lot different right now when it comes to the republicans. >> then no one will be raising taxes. we just couldn't come to an agreement. look how great the 113th is to start off the new years. >> and everyone gets to say, you know what? none of our problems will be solved. >> i'm over the fiscal cliff. i'm over you. i really am. >> i quit it, too. i'm with you, thomas. >> i wish i could quit it. >> this is political coward is at its finest. they have passed the bill that lets them do the things that they really want to do. republicans would love to eat into entitlements, but has no fingerprints to say, hey, we didn't do it, the fiscal cliff did it. >> this could be easy to do, i think, because they were close a week ago, then boehner put forward that gimmick on plan b. if they can't get this solved, how will we deal with immigration reform, which i this i is more politically challenging. >> these are self-inflicted punches, wounds, that they crafted to make them better, and they are failing. thanks for putting
their world apart. but we don't care. because it is making us rich. >> that's right. every year congress gives the fossil fuel industry over $10billion in subsidies. that is your tax dollars lining our pockets, making a fortune, devoiding your kid's future. at exxon that is what we call good business. melissa: joining me now in a fox business exclusive is the executive director of oil change international. it is one of the groups behind the ad. steve, welcome to the show. >> thanks so much for having me. melissa: i understand that this is a parody and it is meant to start the discussion and that's why we're having you on tonight and i'm going to rise right to the bait and tell you as a mom of small kids and someone who follows industry closely i'm totally offended how disingenuous the words in your ad are. let's start with some of them. you say congress gives the fossil fuel industries, 10 dal billion your subsidies? no they're not. they're exxon hard-earned profit. not giving them to the government to feed the beast that keeps spending and spending our money. instead they're allowed to hang o
will answer some of your questions, and help you find the aarp medicare supplement plan that's right for you. >>> with 58 minutes to spare, congress averted the fiscal cliff, but is this just an intermission with the big brawl still to come? it's wednesday, january 2nd, and this is "now." >>> i'm joy reid filling in for alex wagner. joining me today, michael steele. kurt anderson. ron, assistant managing editor of "time" magazine, and mr. sunday morning himself, editor of "the new york times magazine," hugo lindgren. >>> president obama is back in hawaii today after making permanent the bush tax cuts for 98% of americans. no word if the president will be signing it today with a pen in one hand and muay thai in the other. included in the bill. extension of unemployment benefits for a year and a two-month delay of the automatic spending cuts better known as the sequester. on deficit and debt, the deal is more of a punt, but just averting the cliff has sent the markets soaring with the dow already up over 200 points. while it's no grand bargain, the bill does not tackle spending, by the way, do
level. do you think that will happen right away in the new congress? >> the first thing they will discuss after the clear this deal out of the way after the deal with the tax rates. if the house to approve this and the president signs it into law, we're talking about the debt ceiling for the next couple of months. we don't have that much certainty on how much room we have. we know it's $200 billion but that all depends on the specifics of the textile because remember, taxes are going up, but the fiscal cliff its full force and continues to hit full force, technically it already has a degree that helps the deficit picture and gives us more room as a country underneath that debt ceiling. we have already technically hit it. $200 of that extraordinary measures being taken to extend that. cheryl: rich edson live on capitol hill. you will be there all afternoon, possibly into the early evening. thank you very much. once again, we are going to be awaiting a press from nancy pelosi, democratic leader in the house after the conclude their meeting which at this point is still happ
is going to get tested right away when the new congress, which gets sworn in tomorrow, has to take a vote some time in the next two months over whether to raise the debt ceiling. republicans say they want big entitlement cuts in exchange for their votes. the president, anthony, says he's not negotiating. >> mason: nancy, is speaker boehner in any trouble over all this? >> well, the speaker does come up for a vote tomorrow about whether he gets to keep his speakership. there were certainly some conservatives who were frustrated about the fact that they had to take this vote on the bush tax cuts but most don't seem to be blaming him. they knew the tax cuts were expiring, they knew that the political reality was that they weren't going to be able to keep all of them so most of them don't seem to be holding the speaker accountable. >> mason: nancy cordes at the capitol. thanks, nancy. with the budget deal done president obama resume it had vacation he'd been forced to cut short. he returned early today to hawaii to rejoin his family. the white house has not said when the president will sign t
this morning. he signed the ban in retaliation for a new law passed by the u.s. congress that punishes russian officials for human rights abuses. many russians protested this week and even the russian foreign minister the law is a bad idea. >>> taking a look at our other top stories now. sad news this morning, desert storm commander norman schwartzkopf has died. the retired general died from economy indications of pneumonia. he was given the nickname, storming norman and best known for leading international forces in iraq in 1991. he was 78 years old. >>> former president george h.w. bush is in intensive care in a hospital this morning in houston county. he is battling several complications, including bronchitis and a fever. he was admitted to the hospital last month. >>> here we go. >> hear the music -- >> you know what it is, yep. dave ross is hear to talk redskins, cowboys. hello there. >> what a show. when you have the first ladies of football in the house, right on in studio b. they played at my brother's wedding 10 years ago. >> did they really? >> incredible band. >> that's fantastic. >
is exhausted, we eventually do the right thing. and i think that that's true for congress as well. and i think it's also important for americans to remember that politics has always been messy. people have been asking me a lot about the film "lincoln." >> is this your lincoln moment? >> well, no. look, "a," i never compare myself to lincoln, and "b," obviously the magnitude of the issues are quite different from the civil war and slavery. the point, though, is democracy's always been messy. and you know, we're a big, diverse country that is constantly sort of arguing about all kinds of stuff. but eventually we do the right thing. and in this situation, i'm confident that one of two things are going to happen when it comes to the fiscal cliff. number one, we're going to see an agreement in the next 48 hours in which case middle-class taxes will not go up. if that doesn't happen, then democrats in the senate will put a bill on the floor of the senate, and republicans will have to decide if they're going to block it, which will mean that middle-class taxes do go up. i don't think they would want
-- overly long answer -- to bring more attention to these problems. right now congress will be debating cuts in the health program and in this time of austerity weekend be dumb and cut things that provide long-term benefits that our investments in us in our society. federally as well as our actions. >> you are speaking in your forward about actions -- we talk in this book about small actions people take that can help homeless young people. can you talk about how that works in the city? >> i have had lots of conversations with people who were in tough times, famous people like tyler perry who was homeless and living in a car, to people i know throughout my community who have dealt with brutal hatred because they came out of the closet at a young age. all these stories is amazing to me that all these people, stories about how young person, one small act of kindness was a differencemaker for the amended gives me chills to think we all have that power. the biggest thing we do in any day could be a small act of kindness for someone else. the vulnerability, the fragility of life, in cities like ou
in the right place -- >> exactly. the fiscal cliff policies were designed basically by congress to save itself from itself. >> right. >> and if it takes effect -- >> not aspirationally but actually. >> actually as a backstop. now everybody in this whole, let's avoid this fiscal cliff -- >> as a -- >> we're going over the cliff. we've forgotten what the policies were there to do. >> as a markets guy, if there's a viewer who has money invested in the market, should they be invested in the markets if they've got cash sitting on the sidelines and see futures down today, should they say should i be buying into this? things are going to be okay? >> here's the question, you're asking before, andrew, i actually think, and probably a minority in this regard, it doesn't really matter what i think, the market may not agree with me. i actually think that fundamentally there's so much underlying strength in this economy we are in a position where we could actually go over the fiscal cliff, take those baseline policies, take the tax increases, take the messy spending cuts, and the economy will still survive
more broken can congress get than it is right now? they have known -- they had to deal with this for a year and a half. it was clear that they had to approve new revenue and a combination of new revenue and new spending cuts. it was clear we could not afford to continue the tax cuts for millionaires and billionaires and this bunch of clowns couldn't come to grips with it until the very very end. john boehner couldn't corral them even up to the very very end. the only thing he finally was forced into holding a vote. and it's 85 right? yeah 85 republicans abandoned the tea party, abandoned john boehner and ended up voting for the bill so we have got a broken congress more than ever, and we got a bad deal. 866-55-press, let's talk about it here on the "full court press" this wednesday morning, january 2nd. happy new year. >> announcer: radio meets television. the "bill press show," now on current tv. ♪ converstion started next. >> i'm a slutty bob hope. >> you are. >> the troops love me. the sweatshirt is nice and all but i could use a golden lasso.
for us to go over the fiscal cliff and then taxes will rise, right, but then congress will reconvene on january 3rd and vote to cut taxes. is that appliable solution in your mind? >> it kind of it, pretty much what i feel will happen. they have a little bit of wiggle room. the majority of this is not going to be felt until 2014 for the majority of the income tax rise so that causes congress to force them to make a deal knowing that we actually are operating under a higher tax rate right now, even though americans won't feel it, so it's almost like an additional leverage for those who actually want to make a deal and get something done. i just want somebody, like starbucks, we all need to come together. >> and quit kicking the can down the road, darn it. >> exactly. >> ryan thank you for being with us this morning. >> thank you. >> ryan has been with us all week tackling the fiscal effects on your pocketbook. tomorrow, what the fiscal cliff means for your retirement. >>> from the strange case of the technology pioneer john mcafee on the run to so many tragic shootings, we have the top
together and you could really see in his body language that he feels well right now. >> should there be a deal, what needs to happen in both houses of congress for the stopgap effort to go through? >> first, the senate will come together and decide the taxes for the wealthy will go up. now the question is who is wealthy? households to make more than $450,000 per year will see higher taxes. the next obstacle is what is going happen with the additional money? republicans would like to use that money to reduce the debts and democrats would like to spend it. they will find a compromise in the next hour. let's be optimistic. everyone is optimistic that they will finally pass a bill. mr. boehner will then try to find a common ground with democrats in the house and they will have to pass this bill as well. i'm not sure whether they will be able to do that today, so what we might see is that the house will come together tomorrow morning and pass the bill then. >> what happens if there's no deal? to the bills get paid? >> i am somewhat optimistic. if they're not going to find a solution
of an achievement, is it? it's just avoiding the worst so that's the least both sides can do, right? >> i think long term it's more problematic than that. what you see is you have one side of congress that is completely dysfunctional. one side of congress, the house of representatives, is not functional. we're in the midst of a civil war on the republican side. when the speaker of the house puts out his bill and just moments later has to pull his bill back because his caucasus in full revolt, that says something. we're in the midst of a civil war that's going on and i think the american public will be much to the collateral damage to what's going on on the republican side. i think we're looking on this problem down the road until the republican speaker gets his act together, if he remains speaker, if he has an up-or-down vote without the majority of the majority. >> even if they manage to avoid the worst, the way this process has played out before us probably won't fill americans for a whole lot of hope for the next two years, will it? >> no, though in a sense you could argue if they did actually pa
the fiscal cliff which will have sadly almost no impact on the long- term debt trajectory, but right now, neither markets nor the congress care about that. >> reporter: congress has never been terrific at long-range planning, but now the definition of long range seems to be 48 hours. >> you don't hear people talking, well a year from now, we really need to be here. you hear, well we need to do that this week. we need to do that day after tomorrow. this short-time frame horizon is new and i think people who think we are going to have tax reform and entitlement reform next year are way, way off base. >> cutting short his vacation but it's unclear whether he has the power to force a last minute solution through a deeply divided congress. >> darren gersh. >> so, joe, how bad could that be? >> i had, susie. unfortunately, the economy has been gaining momentum, if you look at the labor market as well as housing making progress. but if we would see a fall from the fiscal cliff, it's not in our own estimates that those in the congressional budget office would be enough to impart a recession in t
else is new? can anyone save this congress from itself? turns out the new man responsible is vice president joe biden. yep. that's right. joe biden is the latest person to be called on to try to get congress out of the straight jacket they've put themselves in. the vp and senate minority leader mitch mcconnell exchanged phone calls until midnight last night and again this morning, and appeared to be zeroing in on a tax rate compromise in the region of a $450,000 to $550,000 threshold. a higher rate than the president's earlier compromise as well as an agreement on the estate tax. sticking points remain. president obama seemed resigned to going over the cliff. >> if all else fails, if republicans do, in fact, decide to block it so that taxes on middle class families do, in fact, go up on january 1st, then on january 4th the first bill to be introduced on the floor will be to cut taxes on middle class families. >> and this morning former white house spokesman robert gibbs was even more blunt. >> the republicans simply can't utter the word yes. they cannot utter the word yes. i mean,
, congressman, am i right that they only met with the republican members of congress of those two states? you and other democratic representatives of those two states were not invited to this meeting? >> that's true. but i don't even care about that. what bothers me is that we're not going to do this today in the congress and get it to the president's desk. i don't care who they meet with. that doesn't bother me. but the fact that they're dividing this into three different bills or amendments that it's going to take sometime until later in january, we don't know when the senate is going to take it up. this is -- they're making this prolonged procedure just because they're afraid to have, you know, the tea party republicans and the right wing take a vote. >> let me be clear to people around the country. i've been there to new jersey and new york. people have losted everything. you have people living in shelters, you have people that are in real media. real need here. we're not talking about something that can wait easily. >> exactly. but the whole process, it's not american. like i said, we're
overwhelmingly adopted by this congress that targets russian officials engaged in human rights abuses, specifically those regarding sergei magnitzky, who was a russian lawyer killed in prison after having uncovered mass i government corruption including senior officials in putin's regime. instead of persecuting those criminals, he has cruelly chose ton target russian orphans by banning adoptions by americans. tens of thousands of russian children have been adopted by families in this country who have been given these -- who have given these innocents the love and protection they otherwise likely would never have known. now countless numbers may be condemned to challengic drive -- to tragic lives, knowingly sacrificed by vladimir putin in a sickening effort to show the world how tough he is. is there any additional proof needed of this despicable nature of this man and his regime? i call on president obama to tell putin the u.s. cannot and will not engage in a business-as-usual relationship with a regime so utterly destroyed of humanity a regime that deliberately tears about the -- apa
hello, tom. it is exciting times in tripoli. with election and new congress coming together. as i read libya's recent history it is a bit like we are reliving the post world war ii years. how right he was. that was chris. always thinking, always sharp, always ready. public service is too often looked down upon by some in this country. often my colleagues in the foreign service la meant they don't make them the way they used to anymore. today we remember a man, chris stevens, whose life and service just proves how wrong my colleagues really are. chris shows us they still make them the way they used to, only an awful lot better, thank you. [applause] >> chris's family would like to invite everyone to a reception after the ceremony. it will be held over there. you are all welcome. let us pray. oh lord, support us all the day long until the shadows lengthen and the evening comes and the busy world is hushed and the fever of life is over and our work is done. then in your mercy grant us a safe lodging and a holy rest and peace at the last. may the author of all life bless us and keep us. in
. >> all right. thank you very much. >> so congress's action means the income tax for most will not go up but you will see another tax hike this year. >> sarah simmons is back with us now to explain that. >> hey, a lot of people might be confused. there is a tax we are talking about and that is the payroll tax. this is the amount that gets taken out of your check to go towards social security. for the past two years it was reduced to 4.2% in order to give you a break. the fiscal cliff bill passed last night did not include an extension of the payroll tax cut so now the rate goes back up to 6.2%. here's what this means. a household earning 50,000 $50,000 a year will see paychecks cut by $1,000 this year. for workers making as much as $110,000 a year which is the maximum wage subject to the payroll tax that's $2200 less coming home. this could still be a big hit to the economy. with some predicting smaller economic growth. they add it is likely a surprise to many americans who had heard about income tax rates and not the payroll tax. there is some good news to show. the fiscal cliff bill in
law passed by congress that punishes officials for human rights abuses. >>> still ahead, redskins mania here at fox 5. >> dave ross is here all morning long with a preview of the sunday match-up. in the 7:00 hour, some trash talking with our counterparts at the fox station in dallas. >>> at 9:15, some of the redskins cheerleaders will join us live in studio. it is redskins all day here on fox 5. we'll be right pack. -- we'll be right back. %uÑó >>> the united states is ordering all embassy staff in the country of the central african retubal to leave and last night, a u.s. air force cargo plane evacuated the american ambassador and about 40 other american citizens. it is because rebels have taken over more towns near the capital this week. >>> da vip which i equine emergency transport based in poolesville, maryland is helping a group of miniature horses make their way to newtown, connecticut. the therapy horses typically visit sick, at risk or abused children. davinci volunteered to transport the and medicals so they can provide comfort and distraction for the victims of the sand
, trying to set things right. this, france, is what the president of the governing congress party had to say. >> our thoughts are with the young woman who is fighting for her life after this attack. and our wish today is that she recovers and that she -- >> those are of sympathy. but also talk of new legislation. is that what people think are needed, or just currently putting the proper laws that exist into practice. >> i think a lot of effort is focused on trying to insure that the laws that do exist are exercised by people. the police forces and the courts. the biggest reform measure of the government's picking up on the back of these protests is the fact that they're trying to now make sure that rape cases are tried in fast track courts. india's judicial center is flawed and what tends to happen is a lot of women who are victims of rape simply stop testifying because, you know, they just want to forget the incident on move on with their life. or their fear of retribution and intimidation. it's not unknown for people accused of rape to get away completely in the last year france, th
on and on and on. he is right. and we have one deadline after another. this big fight -- congress for ten or 15 years has set us into this frenzy of deadline after deadline after deadline. 11th hour. >> it's not good. if your taxes might go up next year, what about your fwroshry bill? the deal that could affect milk prices coming up next. you're watching "starting point." ♪ aww man. [ male announcer ] returns are easy with free pickup from the u.s. postal service. we'll even drop off boxes if you need them. visit usps.com pay, print, and have it picked up for free. any time of year. ♪ nice sweater. thank you. ♪ >>> ahead on "starting point," the latest on the fiscal cliff negotiations. we'll ask one house member if he expects to be voting on a deal today. next, utah congressman jason chaffetz. and is the kardashian clan about to get bigger? the new year's news you had to have. kim and kanye west, they respond to the pregnancy rumors. >>> breaking news, everyone. you're watching "starting point." so i switched my car insurance to state farm... saved $480 bucks. you know what that is? yeah.
. >> the american people have a right to be very upset with this congress. >> reporter: the fiscal cliff would bring massive tax increases and deep spending cuts. treasury department would have trouble paying its bills. many worry the financial woes would plunge the u.s. back into a recession. within possible effect of the fiscal cliff/fro, -- milk prices could spike two or three dollars a gallon because farm -- some are calling that dairy cliff. >>> 6:17. mike here tracking light rain.i. l >> i'd like to. >> here's mike with the weather. >>> thank you, hope you are having a great friday morning dry sky over san francisco from the east to sutro tower. light rain showing up off the sonoma county coast,oo8Ñ let's zoom down and show you highway 1 from to inverness looks like it is raining but not reaching the ground. sprinkles possible during the as air mass start to moisten under this flow from the west. best chance of light rain around noon and later this afternoon. until then, chilly, dress for temperatures in the 30s everywhere, except fremont, 41, oakland if you are san francisco 44, monterey bay
fuels. >> we're sitting right here in limbo waiting on our lame duck congress to see if actually they will take up and reauthorize the new farm bill. >> reporter: he needs answers soon. the planting season is weeks anna. anna warner, cbs news, eagle lake, texas. >> tonight, we got our first look at the holiday shopping season and it's disappointing. sales were up by seven tenths of 1% from a year ago. many analysts said forecast growth of 3% to 4%. but super-storm sandy and uncertainty over the fiscal cliff made shoppers reluctant to ersnd. in egypt, voters have approved a new constitution based largely on islamic law. 64% voted yes but the turnout as very low, a little less than a third of eligible voters. coposition leaders say the constitution takes away many of their rights. in syria's civil war, rebel forces appear to be gaining ground against the assad regime. sctivists say the rebels captured the town of harem along the turkish border after a cttle that lasted four weeks. the rebels had already captured other towns in the area and at least three military bases. thpe benedi
people have a right to be very upset with this congress. >> reporter: president obama has invited nancy pelosi, john boehner, mitch mcconnell and harry reid to the white house this afternoon for a "fiscal cliff" summit. >> here we are five days from the new year, and we might finally start talking. >> reporter: today's white house meeting might be the last chance to come to an agreement. that's because it takes time for a bill to work its way through both chambers of congress. >> i don't know time-wise how it can happen now. >> reporter: under senate rules the only way a bill could make its way through the procedure hurdles in time is if every senator agrees not to slow the progress. the house will be back here sunday night giving them just more than 24 hours to vote on any bill the senate works out. outside the beltway, carlino will be watching. >> everybody's kind of in a wait-and-see and fingers crossed perspective right now. >> reporter: since 1930, this is only the fifth time congress has worked after christmas. tara mergener for cbs news, washington. >>> today's meeting will be th
sitting outside of congress, pulling strings, particularly on the right side of the political spectrum. >> congressman, only a few seconds left. we asked senator merkley this earlier and i'll ask you. it's sunday and we're up against this january 1st deadline. it's a soft deadline but we're up against it. what's your best read on the situation right now? do you think there will be a prejanuary 1st deal? >> you know, i'm an optimist. i'm hoping that we are. i think we should have been in d.c. last week trying to hammer out something. i'm going to be there ready to vote for anything that doesn't violate the best interest of maycon stitch wen si and the american people. i know there will have to be compromises but we're not letting the poor pay for it. we just don't do it. if that's what they need to get a deal they won't get ni support. if there's something that protects low-income americans but calls on some sacrifice from others, then, you know, my mind is opened. >> all right, keith elson, democratic congressman from minnesota, chair of the house progressive caucus thanks for joining
, what is available out there, congress n congressman, do you think it's practical here? >> i do because i think you've got an emotional situation right now helping the gun debate along. we haven't had that to nearly the extent we do now. and, you know, i think things are going to happen as we move forward. i hate to be maude lynn but when the police report ultimately comes out and we find out how many bullets were actually dispensed in sandy hook and we learn more about the inordinate amount of fire power that was brought to bear on those innocent children, those are things that are going to continue to keep the momentum alive for doing common sense things like conducting background checks, expanding those and also dealing with high capacity magazines and assault weapons. >> like for so many here, the president said that day in newtown was the worst day of his presidency. i want to switch to another subject here. fiscal cliff. we're talking about here words that are banished. lake superior university puts out a list of banished words this year. numbers one and two this year are fiscal c
the right thing. and i think that's true for congress, as well. and i think it's important for americans to remember politics have always been messy. people have been asking me a lot about the film "lincoln" and -- >> is this your lincoln moment? >> well, no. look, i never compare myself to lincoln and, b, the magnitude of the issues are quite different from the civil war and slavery. the point, though, is that democracy has always been messy. we're a big, diverse country that is constantly arguing about all kinds of stuff. but eventually we do the right thing. and in this situation i'm confident one or two things is going to happen. number one, we're going to see an agreement in the next 48 hours in which case middle class taxes don't go up. if that doesn't happen, democrats in the senate will put a bill on the floor in the senate and republicans will have to decide if they're going to block it which will mean middle class taxes do go up. i don't think they want to do that politically. if all else false, if republicans do decide to block it, if taxes in the middle class families do go u
-- if the republican congress fails to act and work in conjunction with our president, they will lead us over the fiscal cliff. i hope that is not what they want us to do. every indication right now is that the republican congress continues to not work in good faith with the president. there is still time left -- i hope
shutdown that was going on between republicans in the congress and president bill clinton. tori? >> all right. hanging on to the very last second. thank you. you can find a link on our website. just go to ktvu.com. pulls down the news menu bar and go to our politics page. >>> 7:48. starting tomorrow, military veterans will be given -- given a preference when you apply for a job at b.a.r.t. b.a.r.t. board of directors made that decision earlier this month. now, job candidates must have five months of active status with the military and they have to get a passing score in the first phase of the hiring process. by the way, this new policy does not apply to veterans who were dishonorably discharged. >>> well, new york organizers of tonight's big new year's eve celebration in times square, they are conducting last-minute tests for the big ball drop tonight. >> 3, 2, 1! happy new year! >> yeah, the 12,000-pound ball will rise 135 feet tonight in front of a huge crowd. almost 2700 waterford crystals cover the ball and it's lit by more than 32,000 lights. >>> new year's eve celebrations are sta
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